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North Asia Buyers Join South Asia in LNG Spot Interest

LNG

Asian LNG spot prices have declined to about 14$/mmbtu with front month JKM trading at the lowest since Jul 2021. There is enough available supply cover the next few months to meet an uptick in demand for shipments according to Bloomberg sources.

  • Recent weeks have seen an increase in interest from South Asia buyers but there is also some demand emerging in North Asia. A few importers in Japan and South Korea are enquiring about shipments or purchasing prompt cargoes according to Bloomberg. No increase in demand to procure shipments has yet been seen from China.
  • Petronet purchased a cargo for May delivery to India and PTT several cargoes for delivery between May-Sept with prices reported down into the low 14$/mmbtu range. The Japanese utility Kansai Electric purchased an LNG cargo on a DES basis for April delivery.
    • TTF APR 23 up 1% at 47.55€/MWh
    • NBP APR 23 up 0.5% at 119.3p/th
    • JKM Apr 23 down -2% at 14.35$/mmbtu
    • JKM-TTF Apr 23 down -0.1$/mmbtu at -0.54$/mmbtu
    • US Natgas APR 23 down -1.6% at 2.77$/mmbtu
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